Godrej Chemicals Splashes Rs 600 Crore on Gujarat Growth Spree

8 Jan 2024 , 09:50 AM

Godrej Industries Ltd (Chemicals Division) and the Gujarat government have inked a non-binding Memorandum of Understanding (MoU) for the purpose, the firm stated in a regulatory filing.

‘As part of the MoU, the company may plan to invest Rs 600 crore over the next four years on the significant expansion in Valia with employment of around 250 (people),’ stated the statement.

The Memorandum of Understanding opens the door for Godrej Industries to expand its production facilities in Valia. 

According to the firm, the facility, which is situated in the state’s Bharuch region, manufactures a broad variety of oleochemical products made from organic material for use in the food, pharmaceutical, and personal care industries, among other market segments.

Vishal Sharma, CEO of Godrej Industries (Chemicals), stated, ‘This strategic collaboration underscores our commitment to growth, innovation, and contributing to the economic development of the region.’

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